Examples of Construction Lien Claim in a sentence
Any Person asserting a Construction Lien Claim that has not been perfected in accordance with the Construction Act (Ontario) is required to file a proof of claim in accordance with this paragraph.
In aggregate, the Construction Lien Claim Reserves and the Affiliated Properties Reserves hold $11,129,783.92, which represents an amount in excess of the total aggregate value of all construction liens filed against the Affiliated Leased Properties and the Surrendered Leased Properties and the maximum potential secured construction lien claims against these properties prior to review by the Monitor.
In connection with the Lease Surrender Transactions, certain Court-ordered Construction Lien Claim Reserves were established to hold proceeds from the Lease Surrender Transactions in the aggregate amounts claimed under all construction liens registered against the Surrendered Leased Properties.
Payments from the Construction Lien Claim Reserves can only be released upon further Order of the Court.
As a priority matter, the Sears Canada Entities and the Monitor seek to move forward with distributions to those Construction Contractors holding (on their own behalf and on behalf of their Connected Sub-Contractors) Undisputed Construction Claims against the Construction Lien Claim Reserves or the Affiliated Properties Reserves (such Construction Contractors being the “ Identified Contractors”).
The Court ordered that the only recourse of a construction lien claimant in connection with a construction lien on Surrendered Leased Properties would be to the applicable Construction Lien Claim Reserve.
Distributions shall be paid in respect of any Disputed Construction Lien Claims that may be finally determined to be a Proven Construction Lien Claim in accordance with the Claims Procedure Order and Article 7 hereof.
To the extent that any Disputed BFW Construction Lien Claim becomes a Proven BFW Construction Lien Claim in accordance with this Plan and the Claims Procedure Order, the Monitor, shall distribute to the holder of such Proven BFW Construction Lien Claim, Cash from the Disputed BFW Construction Lien Claims Reserve Account in an amount equal to such Proven BFW Construction Lien Claim.
Any Construction Lien Creditor with a Disputed Construction Lien Claim shall not be entitled to receive any distribution hereunder with respect to such Disputed Construction Lien Claim unless and until such Disputed Construction Lien Claim becomes a Proven Construction Lien Claim in accordance with the Claims Procedure Order.
The Construction Lien Claim must be filed within 90 days after work is completed.